foreurope. theeuropean union collect the nobel peace prize in oslo. >> the thousands of jobs under threat. carmaker opel halts production at one of its biggest plants in germany. >> and will he or won't he -- mario monti's back and forth on resignation casts uncertainty over italy's economic and political future. >> we begin the show with what has been a day of celebration for the european union. >> the three senior figures representing the eu have been in the norwegian capital, oslo, to collect the nobel peace prize. it was awarded to the 27-member bloc for six decades of promoting peace, democracy, and human rights. >> however, not everyone is happy. some have asked whether the price is justified at that time when the eu is mired in economic and financial -- the prize is justified at that time when the eu is mired in economic and financial crisis. desmond tutu says it is an organization based on military force. >> coveted award was accepted with pride by the eu's 3 president, martin schulz, herman van rompuy, and jose manuel barroso. the standing ovation they received was a rare accolad

tosoutherneurope. >>and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens, as well. i'll give you more on how that compares to where we closed yesterday. so the two-year, that's the low where we were yesterday. 10-year spanish yields, 5.581%. two-year yield, 2.35%, kind of where we were yesterday, too. and they're continue to go appreciateslide slightly from yesterday's close. as far as currency markets, 1.2880 was the two-week low on

consultants are helping greek companies. donations, why saudi arabia is building mosquesineurope. andchild abuse, why british victims are speaking out now. it is official -- cyprus is the latest patient that needs an injection of aid amounting to billions from its european partners. in these times of crisis, it has become obvious that the small country relied on its fine it -- financial sector to much, and toxic loans and bad speculation eventually tipped to the banks over the edge, so now cypress wants to be bailed out by europe. in return, international lenders want cyprus to introduce reforms and strict austerity measures. these would involve job losses and pay cuts, which is bad news for many cypriots who are already struggling to pay their bills. >> a decade ago, this dancer and musician was a star in cyprus, performing in clubs or appearing on television every night. women were at his feet. they called him the palomino of nicosia -- the ballerino of nicosia. now he and his wife sit at home with their son. the family have debts they cannot repay. they have three loans adding up to mor

jointly accepted the prize. the prize committee said the 27-nation blocturnedeuropefroma continent of war into a continent of peace. rampai vowed to strengthen european unity and overcome the economic crisis. however, critics say the prize is inappropriate, pointing out that the eu has failed to limit the impact of europe's economic troubles. those same critics are pointing at italy. what does this say about investors? >> it says that investors are selling bonds. that's why the yields are going up. it also implies these same people are getting cautious, increasingly cautious over the country. he says he will resign once the next budget bill is passed. the rates had been easing for about a month. the key index on the milan stock exchange plunged by nearly 4% ending the day with a 2.2% drop. the euro was traded lower against the dollar and the yen. the future of italian politics is now more cloudy. the announcement doesn't seem to have caused nu ed much trouble investers outside of italy. >>> over in the united states president obama said he is ready to compromise before plunging ove

. the dollar has been lower. they have talked about the gains that we have been seeing overineurope. theeuro top 50. that is very interesting, as well. this is the environment. it bodes very well. another winning day here on wall street. drug stocks, bank stocks doing well. the vix, the fear index, is to the downside. let's take a look at urban outfitters. taking a look at their quarterly sales. they are looking better than expected. under their umbrella is a name brand that a lot of the teenagers know very well. they had a good block friday. urban outfitters is up over two dollars. back to you. connell: as we get close to this fiscal cliff, both sides agreeing to get serious. we have heard the house speaker will update us on the talks within that hour from house floor. we will hear what speaker banner has to say. joining us right now are to congressman. would you vote if there was an agreement? >> i think it will be a balanced plan that will increase revenues by raising the rates on upper income families, but, at the same time, agreeing to substantial cuts. connell: the reason i started by

at the fair to potential clients in theu.s.,europe, andchina. >>> the nobel prize winner is eager to get back to work. >> he shared this year's nobel prize in physiology or medicine with a british scientist. his family joined him at the ceremony in stockholm. >> he received the award for his work with stem cells. >>> japanese children are scoring better in math and science. some results are less encouraging. the international mathematics inside study has been conducted every four years since 1995 by an international academic society based in holland. about 500,000 students and 60 countries and regions across the globe took part in the 2011 test. a total of 8800 students from japan took the exams. they were fourth graders and eighth graders. japanese fourth graders scored better on average than four years earlier in both math and science. the science scores of the eighth graders also improved but math remained unchanged. the latest test results don't reflect their interest in future occupations. many students say they enjoy studying math and science but when asked whether they want a job

to market internationally in the way that moore really seemed to fit with the modern movementacrosseuropeandthe world. so an agency like the british council, looking to promote british culture and a new view of britain as a great power but coming to terms with the aftermath of the second world war, would listen to these voices telling them that moore is the great artist around at the moment. (narrator) that international stature permitted moore to work on a larger scale, a dream since the early '30s. he could now afford to hire assistants, including anthony caro, who would go on to a successful career of his own, with works like the national gallery ledge piece, installed in 1978. i thought he was the most interesting sculptor around. and really, i went to ask him if i could work with him, work for him, because i'd had too traditional a studentship. a studentship, really, where we were taught by people who thought that art was about nymphs and fawns and generals on horses and that. i used to drive him into london from much hadham and we'd talk about art. we'd have little conversations a

ineuropeandamerica. it is all about jobs. that is when it comes down to. these are countries who have lived with decades of authoritarian rule. in tunisia, 75% of its exports go through europe. there is also a physical problem. you need a leadership concentrating on the right issues. there is a criticism here. in tunis, the leaders are too bogged down in political battles. the role of religion in the street -- state. two years of feels like a long time if you are waiting for a job. >> a long time indeed. stay with us all of this week for special coverage of arab spring anniversary. we have a special section on our website looking at the political changes in the region. just go to bbc.com/arab uprisings. shattered and her broken, the two australian deejays to make a prank call to the hospital said they feel after the death of the nurse then spoke to. the two radio personality speak about what they say was a tragic turn of events that no one could have predicted. our royal correspondent has the latest. >> they have made the journey from the family home in bristol. floors have been place

the slots at heathrow. those remain the crown jewel in terms of the airline business going overtoeurope. ifyou have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look a

's mentioning that the feds started a two-day meeting here. that's not a bigissue.europe, though,are we seeing signs of stress again with the concerns about leadership in italy, and problems in greece, and should we pay attention to that than the fiscal cliff discussions? >> well, you know, right now, doesn't seem like the market is paying attention to that right now. it reminds me a lot of september, before the election, when the s&p's rallied. everything was con taped. we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market expecting from the fed? in what way will they be excited or disappointed? >> well, i think the market, if you look at the option

did take a break from being the world's only super power. what if weleteuropedefendeuropeandsouth korea defend south korea and said we will take care of ourselves for awhile. >> and my great fear is the chaos that arrives from that. >> why do you fear chaos, sir? >> excellent point. >> the argument though is that these other countries that want to replace us don't have an idea. but america is an idea. so when america decides not to be in charge you lose the idea of exceptionalism that other countries don't have. >> but do we care? >> i don't know. >> what if we just put charles in charge? >> of our days and our nights? >> scott baio would do an excellent job. >> i think he would. >> have you seen the women he has been with? >> not recently. >> all of them. >> really? >> can you picture nicole eggert at the white house? >> i met scott baio's wife is dynamite and nicole eggert is not bad and pamela anderson. >> and heather locklear. >> allegedly on that one. >> it is true. got it from tommy lee. >> bill asked if being given a 24% chance was overly optimistic. you said you

. the eu was honored for promoting peace and human rightsineurope. >>the european project has shown it is possible for people and nations to come together across boarders. >> hundreds of people outraged by the eu being awarded protested. they say they are unfit for the honor. >>> coming up, what gmail is blaming for it is e-mail outage this morning and facebook is going forward with policy changes. and the latest on the condition of nelson mandela who was hospitalized over the weekend. oh, you have a keurig vue brewer? oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keurig vue. because we know how much you do to make the holidays just right. from ornaments to ottomans, memories are made with ikea. >>> a lot of gmail users were left in a lunch this morning. google says it was a glob

tough on crime, andineurope, similarly.it's not generally the standards to be putting people behind bars for a possession of any drug in small amounts for one's own personal use. and perhaps the paramount example of success in this regard is portugal. portugal 11 years ago decriminalized the possession of all drugs in personal use amounts. drug selling is illegal and you can still be arrested for that. they began doing evaluations a few years ago. you do not go to jail for possession of any drug in a small amount. and you are not drug tested. nobody gets thrown back in for dirty urines and all this sort of stuff. it's now been in place for 11 years. the research on that, and i recommend the piece in the british journal of crin knowledge and kid send it to -- cridge -- criminolgy. cases of h.i.v. and hepc and crime went down and people continued to seek treatment, that the rates of drug use in portugal did not go up at the same rates as comparable countries in europe. that suggests powerful evidence that you cannot just turn smling from a felony to a misdemeanor but eliminate the cri

toeurope, isanother part of why i think stocks have gone higher. so, germany, it went to january of 2008 highs. we're effectively at five-year highs and you've got a place where people expect european policy also to deliver. but germany, which is the export engine, really, to the world, i think, is telling you something. if you look at their exporters, they have been rallying. if you look at evaluations here, they're not terrible if you look at the export market picking up, especially in china. watch this. it's not all about u.s. fiscal cliff. one of the things we've been seeing rallying in this market are u.s. multinational that are exposed to a better environment. >> quick touch on cummins here. you see the headlines. billion dollar buy back just announced by cmi, so, the sock is trading higher, a little bit in the afterhours session. >> kern? >> without me. they have a great balance sheet. not surprising they would look to do something positive for the shareholders. >> okay. so we'll continue watching that. mike, out in the options world here, the vicks down 15 1/2. doesn't seem like

're beginning to look a littlelikeeurope. theyare punting. >> the market, as we sawineurope, theyrallied the market ahead of what they thought was going to be a deal, kicked the can down the road. in fact, if that's the case. michael may be right there's going to be a framework but not a deal, yes, we rallied the market, they will become disappointed and take it back. >> that's not the case. if you look at what's happening, economy better, earnings solid, interest rates are low. the fed probably this week will announce they are going to continue their policies to flood the system with money. >> but there's your answer. the fed is going to keep pumping the system with money. fundamentally are we really where we should be. >> we're not talking about fundamentals. we're talking about what the market is going to do. there's reality and what the market is going to be. if there's free money, we might be broke but there's free money. >> all right. that sounds like a good recipe. michael, we'll have you back later in the hour. >> kenny, do you buy into the rally. >> you buy into the rally becaus

factors going on heretoo.europeandare drowning in debt. china has a near $3 trillion reserve surplus. you've got demographics. europe and america are aging rapidly. in europe the population is shrinking. there is no such demographic problem in china. you add it all together, debt, demographics and growth rate china is indeed on course to become number one fairly soon. gregg, hold on a second. there is a danger in just extrapolating out from current trends. what's in place will go on forever. we did that with japan 30 years ago. got that one wrong. maybe we shouldn't be extrapolating like this with china. gregg: the other thing that is very conspicuous here is the enormous trade imbalance with china. our trade deficit with china has tripled over the last 10 years. point of fact i just looked it up today. we export 7%. they export 23% to the united states. isn't that a job killer for americans? >> yes it is. there is no question about it. many of the jobs which our fathers and grandfathers had in the united states left a generation ago or 10 years ago, they left for china and that's ba

job losses. the carmaker is attempting to put the brakes on its lossesineurope. theplant shutdown becomes the first for germany since world war ii. italian bond yields headed higher following news that prime minister mario monti plans to resign. monti's reign will come to an end in february, following passage of the 2013 budget. the move raises political concerns over italy in the midst of the eurozone crisis. monti has been credited with keeping italy's debt crisis under control. the japanese economy has some gross domestic problems. japan's gdp has contracted two quarters in a row, signaling it has entered recession. a recent territorial dispute with the chinese government and struggles following last year's tsunami continue to hurt japan's export market. an election next week in japan could have a large effect on fiscal policy. reports say delta is close to landing a deal that will give the airline a 49% stake in virgin atlantic. bloomberg reports talks between delta and singapore airlines, which is looking to sell its stake in virgin, are advancing. the deal is estimated to co

the cars get buried. >> this stopped travel insoutheasterneuropeandeven a handful of deaths were reported as a result of this storm. >> is this more than they're usually used to? what's so odd about this one? >> they had unusually warm temperatu temperatures for the fall. now heavy winds an with the snowfall. >>> it may not like like it, but this is cutting edge technology if you're a syrian rebel. basically what you're looking at is a tank. they've got armor cladding built over an old car chassis. they've got a gun mounted turret up top. but look. if you noticed, there are no windows on this tank. of course that wouldcompromise the security of a tank. instead they'vemounted cameras drive via camera view. the gun turret looks to be operated by a police station controller. >> yeah. i was like, this doesn't look like warfare equipment. it looks more like a game. >> if you're fighting a government-funded military, and this is all you've got to work with, this is pretty good. >> that took some know-how. to take a video controller, hook it up so you can drive this and shoot. that's pr

from lansing. not one workerfromeurope's biggestbank, hsbc, will far us a criminal charge after they were accuses of failing to guard against terrorists, tax cheat and drug cartels but agreed to pay a record $1.9 billion fine to settle the case. that probably won't hurt this bank at all. last quarter, they reported $2.5 billion in net profit. according to the treasury, the failure to police transactions allowed hundreds of millions of dollars in drug money from mexican cartels to flow into the united states. the feds report the bank broke finance laws when they did business with iran and libya and cuba and others. under their deem with the feds, the bank will pay the record fine, change some policies, but not one bank employee will ever face criminal prosecution. the prosecutors say department of justice officials wanted to bring criminal charges but decided not to not because of a lack evidence but because it would put the future of the largest banks at risk. think of that. not because they didn't have the goods. they were worried about the banking system. this says clearly it

surpassed north maeshgandeuropecombinedin terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion dollar card for starbucks. >> this is the question of the surgery. they had a $450 stainless steel elite card. now they're on ebay getting them for maybe $1,000. some is of the bids are up to $1,000. it's collectors item for the to be 1%. these starbucks limited edition gift cards have sparked a frenzy on ebay of people who want to hold on to this. >> it's the perfect gift for people who like to buy overpriced coffee already. >> you get perks, lik

. investors waiting to see what comes out of the fiscal cliff negotiations andineurope, achoppy start to the trading day. investors are waiting for the results of greece's bond buyback program occurs. joe has some of the big corporate news and this one is actually a global corporate story. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money laundering? >> i'm just saying, if you're going to be in business in all these types of markets, isn't this going to happen? >> aren't there sxwier countries that would be probably -- that it would stead if you don't want any business tale. >> was there a fascination in this country about whether you want to indict the whole institution or wha

job. >> the new year just around the corner, and while our next guest expressed concernforeuropein2012, this year his focus for next year is now on the united states. just what should investors expect, you ask? >> let's ask ethan harris who joins us with his outlook from 2013. >> welcome back, ethan. >> how does the next year look to you? >> well, i think it's going to be a very slow start. i mean, this fiscal cliff discussion you're having right now illustrates why there's a high risk of a messy outcome with both parties fluilibusteri here. i think we'll start out with weak from the shock of the cliff and austerity measures and i think things will get better in the secretary half once we get past the initial shock, but it's going to be another choppy years. >> the bulls join us often here, ethan. their point is this is such an undervalued market and there's so much cash sitting out there that any deal would be sort of a relief for the markets and get corporations back to capital expenditur expenditures, back to hiring and maybe a bump in the economy. i sense that you don't fee

global answer so u.s.andeuropeandchina are going to have different strategies. but the notion that in this region gas could be $2 to $3 or even $5 $6 for a million b.t.u.s shifts nuke fear this country out over a period of time. there may be a few new reactors built, but not many. >> rose: when do we have energy independence because of the online production of shale? >> here's what i would say, charlie. in other words, somebody who's smarter than i am should pick what's the right strategy. is it independence? is it security? is it something like that? but between canada, mexico, and the united states this region, the and a half a region, could be energy independent very soon. this region could probably be the most powerful or one of the most powerful energy producing regions in the world. and shale gas is just a game changer. it's just -- it's just a game changer is it a pan see yaw yah? no. but it opens up doors and that's something we should have high on the lists of things to do. >> rose: when you see that, what could disrupt that possibility of shale gas playing the role o

of gravity is shifting toward asia but awayfromeuropeandnot away from the united states. that argues for the posse the administration has adopted cultivating those relationships. with trade and investment opportunities. we do that. it is the right thing to do. >> when union shows power and influence of drug use and to get liquor up at work. caught on video. and navy pacific fleet commander tomorrow. the "a team" will assess all of that. silence from the president and speaker boehner of their negotiations. stay with us. ♪ [ engine revs ] ♪ ♪ [ le announcer ] the mercedesenz winter event is bk, with the perfect vehicle that'sust righfoyou, no matter which list you'r on. [ santa ] ho, ho, ho, ho! [ male announ] leasa 2013 ml350 f $599 a month at your local mercedes-benz deale time for citi price rewind. because your daughter really wants that pink castle thing. and you rlldon't want topay re than you have to. nly citi price rewind automatically searches for the lowest pre. and if it findone, you get refunded the difference. just use your citi card and register your purchase onli.

agreement settling u.s. probes of money laundering tiedtoeurope's largestbanks. surss say that would make it the largest foriture ever by a bank. in a agreement, prosecutors allow a target to avoid prosecution by meeting certain conditions, including payment of fines or penalties. stocks closing high yes, better than expected. Ãalso all pulling in. and square is now offering digital gift cards just in time for the holiday season, users will be able to buy gift cards to merchants that use square through the app. the companies expected to process $10 billion in transactions this year. in san francisco, larry, carolyn, back to you. >> thank you weather. news upper mid west digging out from a major blizzard. a storm dropped well over a foot of snow and was the worst storm to hit the minneapolis st. paul area. hundreds of car accidents have been reported and conditions shutting down major highways. the storm is losing power. >> we have opposite conditions here. it's warm. >> beautiful outside. >> yes. >> almost hit 70 degrees in spots so far today. but thatÑl÷Ñ is going to change. yes. >>

prosecutionofeurope's largestbank might destablize the global system. >>> that closes the books on the biggest bailout. the government's 16% stake is worth almost $8 billion. >> made a profit off of that deal. >>> thanks to the surge in online shopping, shipping services expecting a record-setting year. a record number of packages are in the fedex pipeline after its busiest shipping day ever. abc news got a special look inside its global hub in the city of memphis. by yesterday afternoon, more than 19 million packages had been shipped. 10% more than the busiest day last year. business is up. >> mind-boggling. >>> facebook and gmail seem to be all right this morning. but both services had brief outages. some users had problems with google calendar and documents for about an hour. there's no word from google about the cause. facebook said it changed a web address. that outage lasted 20 long minutes. >>> and pepsi's latest global partner is my girlfriend, beyonce. beside her appearance at the pepsi halftime show at the super bowl, the singer will appear on everything from soda cans

the european union was awarded the noble peace prize for promoting peace and human rightsineurope. theaward is not without its critics. some say the eu contradicts because it relies on military force. >>> after seven days of balloting it seems that users lost the ability to vote on policy. voter turn out needed to be at least 30% to keep the policy in place. fewer than 700,000 votes were cast instead of the 300 million that were needed. facebook is expected to make an official announcement sometime tomorrow. >>> it didn't take long for twitter to get over its break up with instagram. which allow instagram photos to be views on twitter. you can still include an instagram message on those pictures. >>> when to expect rain coming up in your complete bay area forecast. >> a reminder that you can get ktvu news [ female announcer ] for those who love sweets, your season is here. let's just call it the baking time of year. you need special ingredients. you need the staples. that's a given. you need safeway sugar for just $1.97. and that magic thing that makes everyone want another -- only $2.99 fo

in the '80s that has been revised. if you go to canadaoreurope, it'svery common there, even on the east coast it's very common to. and they have gotten much better machines so you can now put a machine like that in front of the store. >> is that at whole foods at 4th street? >> no, it's at the safeway at 4th street and one at clement and 7th, safeway and one i believe at the marina safeway. >> are they being used? >> yes, they are. >> they are kind of limited, again, if someone comes up with a shopping cart it kind of shuts it down, but for the family or for folks, that is kind of the small-scale solution. that if we get the prices of those down, they are a little expensive at the moment. that could provide convenience in a lot of neighborhoods. and then you would need that distribution system to collect it. i think we do have some solutions. >> director dick-endrizzi? >> just to make sure that commissioner ortiz-cartagena, if the supermarket isn't there and then the small businesses in that half-mile radiuss, they are not required to participate in the program. it's just when th

most in othersocieties,europeandelsewhere, though their rates of nonviolent crime and drug use are not that much different than ours. so if another country were to lock up its own people at the rate that we do, and if our rates of incarceration were more normative to the rest of the world, we would regard with that other country was doing as a massive violation of human rights. that's the way we would look at it. now, the other point here is what we're doing is not even consistent with american history. i mean, we had 500,000 people behind bars in 1980 and now we have 2.3 million, 2.4 million people behind bars and almost have 5,000 people behind bars just for a drug violation. there are as many people behind bars for a drug violation than we had for everything in 1980. it's not consistent with gl

as well. talking about the banking gianthsbc,europe's largest,have to pay $2 billion to settle investigation by u.s. prosecutors who are looking into international drug money laundering. investigators say the bank ignored rules that could have stopped this laundering operation, that the money went to drug cartels and terrorists. jim bolden is joining us london. what happened? >> reporter: well, suzanne, this is interesting. all of these banks have been fined by the u.s. government over last few years but hsbc, by far, the biggest. this fine, as you say, $1.9 billion. the government says that this bank has not been complying with u.s. laws when it comes to finding out where the money is going to, where the money's come from. u.s. government says there s too much money coming from mexico for hsbc not to know between 2006 and 2009, that it must have been coming from money laundering from drug cartels. they say they have put now measures in place so it wouldn't happen again. >> why are we seeing problems with or european banks as well? huge international fine -- these fines on inte

coming under pressure recently starting toturn.europeseeingimprovement helping equities along as well. lori: not sure if you mentioned the fed. we were talking about it at the top. talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn violent in lansing, michigan, as union protesters ripped down a tent belonging to right-to-work supporters. becoming the 24th right-to-work states today allowing workers to get the right to join unions. jeff flock is in lansing michigan covering the story for us. i thought it was interesting how you covered the scene there with michigan a few years back, excuse me, wisconsin. >> wisconsin, exactly. not the same kind of intensity. part of that is because this is already pretty much a done deal. there they had not a teacher headed off. the second one being debated right now. but renew over here to the scene of the geo

only industrial country that came out of second world warintact.europewason its knees. germany and japan were rubble so we thought that was the natural order of things. it wasn't. and when the other industrial countries recovered we got world competition as we have. we ran into bankruptcies. chrysler now twice. we see that in the southern states where the transplants are without the unions. they weren't the ones who went bankrupt last -- in 2008 and 2009. so it really is a choice. it's a tough choice. and i sympathize with the unions but the fact is that in the global economy where you have to compete on wages and other elements, of the units of production, can you either have, you know, high wages with low employment or you can, as obama would say, spread around the wealth. the fact is that in the right-to-work states, unemployment is 6.9%. >> we have a graphic that shows right-to-work vs. non-right to work statements on employment, go ahead. >> and in the other stays the non-right-to-work it's 8.7. so you can choose to have fewer workers who enjoy higher inflated unnatural, i

the measure -- the republican-dominate -->>>europe's bankagreeing to pay a fine for anotherly -- for nearly two billion dollars and sorry for past mistakes. facebook making change to infrastructure. officials gathering today for start of two day meeting. fed will unleash new round of bond buying designed to keep interest rates low. higher close yesterday. if you are looking for a bargain now could be a good time to pick up a pick-up. general motors boosting buyer insensitives trying to dump extra stock and keep up with better deals on-ramps and nissan titans. at the new york stock exchange, i'm jane king. >>> 5:46. this afternoon as you drive home or after you get home and have dinner that you see the rain? >> may have a scout shower ahead, really going to be evening and overnight hours. until we get there we have transitions. you don't see it here we are looking south if we are looking north in the north bay, a lot of fog along 101 here crystal clear sky over san francisco. doppler is dry now. widen out the perspective near seattle that is tonight's weather, traveling that far to get here

what they call very dispointing election. at civic center plaza abc 7 news.>>europebiggestbank hsbc is expected to pay 1.9 billion dollars to settle a money laundering investigation with regulators in the united state states. hsbc is accused of money laundering for mexican drug cartel. announcement formally is expected tomorrow. >> apple new appearing map is now coming with a safety warning for nurs australia. police in the city of victoria asking drivers to avoid using it. officers say they have had to rescue several people who got lost when the app led them to the wrong place. drivers stranded for more than 24 hours when directed miles away from murray sunset national park. may not seem like a big deal except that location is in the middle of nowhere and the park has no water supply and temperatures can reach 115 degrees. dangerous place to be stranded. apple hasn't commented but the ceo tim cook publicly apologized for the app early this year and has promised improvements. >> trying to catholic church a cab in san francisco can be frustrating and at some hours of the d

, you are being forced into risk assets. it lookslikeeuropeisimproving. looks like i merging markets are improving. there's other places for the flows of capital to go. not just the u.s. >> i think boehner sounded like today he was overplaying his hand a little bit. if you step back from the rhetoric, the back and forth posturing in washington, i think you have a market that if you look back in october, the s&p was trading 1470. it pulled all the way back after the election. now we took right out the 1425 level which was major support on the way down. we cut right through it this morning. the s&p is trading up over 1430 right now. i don't see anything between this 1430 level and 1450. and from there i think we could close on the highs of the year. i think the market's telling you right now, put washington in the backseat. you need to be part of this rally. >> let's go to mary thompson at the market flash desk. >> we are watching apple. of course, apple is higher today up just about 3%. couple pieces of news. fox con, chinese manufacturer that makes parts for apple coming in and sayin

ofcentraleurope, particularlyhungary, east germany and poland from 1944 to 1946, they tried to empty out the universities of historians and philosophers. and they were pretty effective at that. they got them to go west. as we know. or they exiled them in some way internally. in central europe, eastern europe as well. they encouraged more science and engineers, which is fifpblete but they weren't in a creative environment where they could do good work. democracy, as again the founders would have known this, you can't just be a science and engineer in a democracy to look way over the cliff to the mountains and beyond. so i'm very disturbed now to say that one great state university is talking about creating incentives for people to do science and engineering as undergraduates as against in effect creating disincentives for people to do humanities. you have to have people who can look beyond the current crisis. that also has been part of the american middle class, new ideas. >> i agree with that. i would like to see more of an emphasis on the science and math. i guess -- we are going to in

to be larger than north americaandeuropecombined.>> the rapid rise of other countries, and above all, the spectacular rise of asian economies is dramatically altering the context in which u.s. global power will operate. >> shepard: the report notes that the u.s. is likely to remain a major global player on the global stage because of how it's able to pull together coalitions to tackle global problems. >>> today was pposed to be the start of the window in which north hey would launch a new -- north korea would launch a new controversial rocket. so far no launch. we have the reasons for the delay. gunfire on a busy new york city sidewalk. just up the street from us, cops say somebody shot a man right in the back of the head then jumped right into a waiting getaway car and off he went. or she went. there's a manhunt or a womanhunt on, and how did a sporting event for disabled athletes, disabled athletes, turn into this? it's coming up as we approach the bottom of the hour and the top of the news as fox reports live tonight. humans -- sometis life trips us up. and sometimes, we trip ours

for a recession maybe by march, maybe by april. we also have very powerful headwinds comingfromeuropethatis in recession because it bought into austerity economics and that's what we would be buying into in a very big way if nothing changed. we also have china that is slowing down. globally and also domestically there is not enough demand to keep the economy going and i would say the worst scenario of all -- i don't think it's going to happen, but probably by march we're going to see some real problems in the economy if nothing happens. >> i think you and i agree if we do go off the cliff, so to speak, on january 1st, that the negotiations to fix this problem would begin somewhere around january 2nd? >> probably the 8:00 a.m. the morning of january 2nd. they are going on right now. >> yes. >> there is probably a slightly better than 50/50 chance that there will be a deal before december 18th. assuming that we're close to a deal, i think it's going to happen right away and the democrats are going to be preparing legislation and it's going to be introduced right away, january 2nd, to

economy and suggests asia in general will have more overall power than the u.s.andeuropecombined.but before we freak out and preemptively launch economic warfare to stay on top, our next guest says america stands to gain a lot from china's growth and china's leadership may be open to the type of reforms to strengthen our relationship. we have donald gross, he's author of "the china fallacy, how the u.s. can benefit of chi in's rise and avoid another cold war." donald, welcome. i have to say i've talked to both folks on both sides of this argument. i had a long conversation with governor jon huntsman who talked about china being very healthy and robust and our relationship very important, one of the most important in the world, in fact. i talked to gordon chang a number of time who is talked about china being well, pretty evil and collapsing and wanting tock an eminent threat to our country. who's right? >> well, i have to say that i strongly agree with governor huntsman. he was after all the ambassador to china. >> right. >> he's a leading american politician. i think that he ha

suggest getting some exposure.perhapseuropeisa value but definitely, some a sho-- asia.. beyonce signed a $50 million deal with pepsi. this will cover a photo shoot, video, and her face is even going to be on the can. smart. toyota, all known in the music industry because people that listen to music the bake consumers out there. >> thank-you, and that-the music that make consumer choices. (male announcer): now, here's stanley roberts who found people behaving badly. >> this isn't easy this is a man made bridge i am trying to cross with a camera, i'm not liking this but it is what is this is just one of many crudely designed bridges that allow the homeless to go back and forth i'm more worried about the camera, myself i can take a dunking but this camera can't there are 8 miles of homeless encampments along the coyote creek in san jose what i am about to show you is a small snippet they are all lined along the creek with is a very delicate ecosystem an eco system that is in grave danger this water looks ok but this is what is flowing in it and see that shopping cart there litterly

all too common. the country sends goods all the over the u.s.andeurope. thisfactory had links through subcontractors to retail giants such as wal-mart, sears and disney. but safety is often ignored in the pressure to keep production moving for a global supply chain. the enter in the labor rights forum says more than 600 people have died in bangladesh garment factory fires since 2005. this blaze was followed two days later by a 12-story fire in another part of the town. there were no deaths in that blaze. for more on all this we turn to steven greenhouse who covers labor and workplace issues for the noork times. thanks for being with us. steven, bring us up to speed. after that fire there were documents an activist group put out which seemed to indicate retailers unwilling to pay for some of the safety upgrades. >> yes. documents came out from a that was held last year in bangladesh. a meeting called by the government and by the bangladesh manufacturers association that was urging those giant western retailers like the gap, like wal-mart to like step up to the plate and agree t

.s.andeuropeinterms of global power by the year 2030. china is set to lead that charge according to a report from the national intelligence counsel. that news from a report prepared every four years. this is by 17 different american intelligence agencies. the report says within 17 years you'll see asia surpassing both north america and europe in terms of gdp, population size, military spending, and technological investment. china in particular will be the largest economy in the world and for the first time ever the majority of the planet's inhabitants will not be living in poverty. the report also says-like to india which will mimic the growth that we're seeing in china today. so it could mean more global competition for america but doesn't necessarily mean an america in decline. if we play our cards right, we'll see an economic renaissance in this country, regardless. from the cnn money newsroom in new york, i'm ali velshi. i'm out. same time tomorrow. to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-

and philosophers and they got them to go west or they exile them internally incentraleurope. theyencourage more scientists and engineers. the founders would have known this. you need the historians and philosophers to look way over the cliff to the mountains and beyond. talking about creating incentives to do -- you have to have people that are imaginative who can look beyond the current crisis. that has been part of the american middle class, new ideas. >> i agree with that. i would like more of an emphasis on science and math. in terms of the k through 8th grade. >> absolutely. a young physicist learning how to do problem sets started going back to the questions of uncertainty and the relativity theory and became more philosophical. if you're just doing problem sets, you are not thinking about the deeper ideas or setting the framework for thinking will be on the cliff to the future. >> do you have a question? >> i fear that we have a burgeoning student loan problem in our country. it is the only form of consumer debt that has increased substantially. it is by definition sub-prime, because peo

and state authorities have reached a record-setting settlement with british banking gianthsbc.europe's largestlender has agreed to a staggering settlement. this is a big fine. hsbc is accused of helping transfer billions formations like iran doing business with firms linked to terrorism and also enabling mexican drug cartels to move money illegally through u.s. subsidiaries. >> considering that, that sounds low, $2 mibillion for helping mexican drug cartels and terrorists out of iran? >>> and asia asending, the west in decline. 300 years of the west rising is reversing. american intelligence agencies are preparing this report that they do every four years for incoming administration. the world undergoing tectonic shifts, comparable to the french revolution and industrial revolution, but happening much faster. by 203 0shgs asia will see the power it last had in the middle ages and the report says "the uni polar moment is over and pa x americana, the era of american ascendcy is fast winding down. the squabbling over trying to close just a part of our deficit and in the lock view, take

:42. a record fine for a bank.whyeurope's largestbank has to pay nearly $2 billion and the impact it will have on the bottom line. more fallout from the spending scandal and what we're learning from a newly-released audit and which expenses may have broken the law. >>> stocks opening higher ahead of a meeting bite federal reserve and possible additional steps to bolster the economy. stocks are nearly holding onto their gains for the year. the dough is up -- the dow is up 18%. the s&p has gained -- has gained 13.3. the knack is up 39. the dow is up 107. the s&p is up 12. >>> j.p. morgan chase has taken over the top spot in the latest spot of customer stats faction. the ratings jumped 6 points. wells fargo saw a drop of 3 points, giving it the second highest rating. the san francisco bank had been number one for 11 years. bank of america had the lowest rating of banks >>> the $1.9 billion crime to settle a crime into money laundering. hsbc was accused of transferring money from drug cartels in mexico from the u.s. >>> 7:45. the 49ers suspended running back brandon jacobs who tweeted

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